Method and system for verifying point of sale authenticity through blockchain distributed ledger

Abstract

A method for verifying the authenticity of a point of sale prior to the initiation of a payment transaction using unique merchant-specific data and blockchain registration includes: receiving identification data from a point of sale device; receiving data comprising a permissioned blockchain, the data including a plurality of blockchain data values, each data value including at least a set of merchant data; verifying the point of sale device by identifying, in the plurality of blockchain data values, a set of merchant data that matches the received identification data; and outputting a notification to a user of the mobile communication device if verification of the point of sale device fails, or transmitting payment credentials stored in the mobile communication device to the point of sale device if verification of the point of sale device is successful.

What is claimed is: 
     
         1 . A method for verifying the authenticity of a point of sale prior to the initiation of a payment transaction using unique merchant-specific data and blockchain registration, comprising:
 receiving, by an input device interfaced with a mobile communication device, identification data from a point of sale device;   receiving, by a receiver of the mobile communication device, data comprising a permissioned blockchain, the data including a plurality of blockchain data values, each data value including at least a set of merchant data;   verifying, by a processing device of the mobile communication device, the point of sale device by identifying, in the plurality of blockchain data values, a set of merchant data that matches the received identification data; and   outputting, by an output device interfaced with the mobile communication device, a notification to a user of the mobile communication device if verification of the point of sale device fails, or   transmitting, by a transmitter of the mobile communication device, payment credentials stored in the mobile communication device to the point of sale device if verification of the point of sale device is successful.   
     
     
         2 . The method of  claim 1 , wherein the identification data is received from a point of sale device by reading, by an optical imaging device of the mobile communication device, a machine-readable code physically displayed on the point of sale device encoded with the identification data. 
     
     
         3 . The method of  claim 1 , wherein the identification data is received from the point of sale device using near field communication. 
     
     
         4 . The method of  claim 1 , the payment credentials are transmitted to the point of sale device using near field communication. 
     
     
         5 . The method of  claim 1 , wherein
 the transmitter of the mobile communication device is a display device interfaced with the mobile communication device, and   transmission of the payment credentials comprises display of a machine-readable code on the display device encoded with the payment credentials.   
     
     
         6 . The method of  claim 1 , wherein the payment credentials include at least one of: a primary account number, a digital token, and a digital signature. 
     
     
         7 . The method of  claim 1 , wherein the identification data includes at least one of: merchant identification number, geographic location, merchant name, device identifier, and media access control address. 
     
     
         8 . The method of  claim 1 , wherein
 the identification data matches a set of merchant data included in a specific blockchain data value of the plurality of blockchain data values, and   the specific blockchain data value is digitally signed by a financial institution that issued a transaction account to a merchant associated with the set of merchant data.   
     
     
         9 . A system for verifying the authenticity of a point of sale prior to the initiation of a payment transaction using unique merchant-specific data and blockchain registration, comprising:
 a point of sale device;   an input device interfaced with a mobile communication device configured to receive identification data from the point of sale device;   a receiver of the mobile communication device configured to receive data comprising a permissioned blockchain, the data including a plurality of blockchain data values, each data value including at least a set of merchant data;   a processing device of the mobile communication device configured to verify the point of sale device by identifying, in the plurality of blockchain data values, a set of merchant data that matches the received identification data;   an output device interfaced with the mobile communication device configured to output a notification to a user of the mobile communication device if verification of the point of sale device fails; and   a transmitter of the mobile communication device configured to transmit payment credentials stored in the mobile communication device to the point of sale device if verification of the point of sale device is successful.   
     
     
         10 . The system of  claim 9 , wherein the identification data is received from a point of sale device by reading, by an optical imaging device of the mobile communication device, a machine-readable code physically displayed on the point of sale device encoded with the identification data. 
     
     
         11 . The system of  claim 9 , wherein the identification data is received from the point of sale device using near field communication. 
     
     
         12 . The system of  claim 9 , the payment credentials are transmitted to the point of sale device using near field communication. 
     
     
         13 . The system of  claim 9 , wherein
 the transmitter of the mobile communication device is a display device interfaced with the mobile communication device, and   transmission of the payment credentials comprises display of a machine-readable code on the display device encoded with the payment credentials.   
     
     
         14 . The system of  claim 9 , wherein the payment credentials include at least one of: a primary account number, a digital token, and a digital signature. 
     
     
         15 . The system of  claim 9 , wherein the identification data includes at least one of: merchant identification number, geographic location, merchant name, device identifier, and media access control address. 
     
     
         16 . The system of  claim 9 , wherein
 the identification data matches a set of merchant data included in a specific blockchain data value of the plurality of blockchain data values, and   the specific blockchain data value is digitally signed by a financial institution that issued a transaction account to a merchant associated with the set of merchant data.